Paper Chasing in Singapore and Choosing a Job that Makes You Happy

I wrote about the Paper chase in Singapore a few days back. I must admit I got a bit side tracked from writing about how much one needs to get married where I wanted to share more about the costs of getting married in Singapore. I promise to get back to that once I am done with my ranting on the ingrained mindset of paper chasing in Singapore.

ARGH! THAT WAS ME IN THE MIRROR

I seriously could not believe that when I got home today, I actually spent a large amount of time researching on the various masters courses that I could take in Singapore. A good part of my evening was gone just researching on SMU, NTU and NUS. I even contemplated signing up for other courses like ACCA or CFA. But then I got lost in the myriad of requirements and stuff. This pretty much sums up the Singaporean obsession with paper qualifications. I have seen the enemy and I am one of them! I am just like any other Singaporean who focuses too much on paper qualifications.

Choosing a Job That Makes You Happy

It was definitely timely to read an article about choosing a job that makes one happy. Am I happy in my job? Do I have passion for it? I can't be certain. Some days I wake up gearing to go to work. Then there are other times (long stretches I admit) where I simply don't fill the urge to go to work at all.

Stable Job versus "Unstable" Job

Should one leave a stable and well paying job for an "unstable" job (a job that one is interested in)?

What if by staying on for another 20 years in the stable paying job (that one does not really like), one is able to earn more than $2 million? This would be more than enough to pay off all debts (housing loans and car loan) and even have some cash to spare for investment. After achieving this financial freedom, one can then move on to pursue one's interests that might not pay so well (the "unstable" job).

But what is the opportunity cost? What if by opting for the "unstable" job (i.e. pursuing one's interest, one is able to earn even much more? Should one take such a great risk? We only live once..

These are questions that I have been pondering over and over again in the past few weeks.

How important is financial stability to me?
Should I stick to the stable job and guarantee myself a comfortable life or should I opt for a job that interests me but that might not pay me so well?
Would I regret it if I stay on in my current job and give up 20 years of my life doing something that I do not like?

If I stay on in my current job, I am certain that by the age of 50, I would be able to pay off all my debts and even have quite a sizeable sum of money (region of 6 figure). That is given that I do not overspend.

However, what if I leave my job and am able to earn even much more than my current job?